Radius Recycling (NASDAQ:RDUS) Sees Strong Trading Volume – Here’s Why

Shares of Radius Recycling, Inc. (NASDAQ:RDUS) saw strong trading volume on Monday . 284,185 shares were traded during trading, an increase of 4% from the previous session’s volume of 272,236 shares.The stock last traded at $28.59 and had previously closed at $27.81.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. The Goldman Sachs Group assumed coverage on shares of Radius Recycling in a research note on Monday, December 2nd. They set a “neutral” rating and a $22.00 target price on the stock. StockNews.com lowered shares of Radius Recycling from a “hold” rating to a “sell” rating in a research note on Thursday, December 26th.

Radius Recycling Price Performance

The stock has a market capitalization of $815.93 million, a P/E ratio of -2.89 and a beta of 1.67. The business’s 50 day simple moving average is $13.67 and its two-hundred day simple moving average is $16.10. The company has a quick ratio of 0.97, a current ratio of 2.02 and a debt-to-equity ratio of 0.75.

Radius Recycling (NASDAQ:RDUS) last released its quarterly earnings data on Tuesday, January 7th. The basic materials company reported ($1.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.67). Radius Recycling had a negative net margin of 10.49% and a negative return on equity of 14.16%. The business had revenue of $656.54 million during the quarter, compared to the consensus estimate of $665.90 million. During the same period last year, the business posted ($0.64) earnings per share. The firm’s quarterly revenue was down 2.4% on a year-over-year basis. As a group, sell-side analysts forecast that Radius Recycling, Inc. will post -3.84 earnings per share for the current fiscal year.

Radius Recycling Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd were paid a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date of this dividend was Monday, February 3rd. Radius Recycling’s dividend payout ratio (DPR) is -7.49%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in RDUS. Quarry LP bought a new position in shares of Radius Recycling during the third quarter valued at about $32,000. Point72 DIFC Ltd bought a new position in shares of Radius Recycling during the third quarter valued at about $46,000. Aquatic Capital Management LLC bought a new position in shares of Radius Recycling during the fourth quarter valued at about $68,000. Point72 Asia Singapore Pte. Ltd. lifted its position in shares of Radius Recycling by 172.9% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 5,357 shares of the basic materials company’s stock valued at $99,000 after purchasing an additional 3,394 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Radius Recycling during the fourth quarter valued at about $140,000. 78.11% of the stock is owned by institutional investors.

Radius Recycling Company Profile

Radius Recycling, Inc recycles ferrous and nonferrous metal, and manufactures finished steel products worldwide. The company acquires, processes, and recycles salvaged vehicles, rail cars, home appliances, industrial machinery, manufacturing scrap, and construction and demolition scrap. It offers recycled ferrous metal, a feedstock used in the production of finished steel products; and nonferrous products, including mixed metal joint products recovered from the shredding process, such as zorba, zurik, aluminum, copper, stainless steel, nickel, brass, titanium, lead, and high temperature alloys.